Thu, 20 Apr 2023 | BUSINESS SALE
Northern Ireland-based financial planning firm Doherty Pension & Investment Consultancy has been acquired by wealth management group Mattioli Woods in a deal reportedly valued at around £15 million.
The price represents approximately a 5.1x multiple of Doherty’s £2.9 million revenues for the year to December 23 2021, on which it generated profit of close to £1.5 million.
Doherty was founded in 1985 and advises around 1,320 private clients, with the firm’s services including specialist pension advice regarding SSASs. The company, which is based in Belfast and employs 28 staff, currently has more than £635 million in combined assets under advice and administration.
Following the acquisition, Doherty’s management team, led by managing director Terry Lappin, will remain with the firm.
Commenting on the acquisition, Mattioli Woods group managing director Michael Wright said: "It is very rare that such a great opportunity to bring one of the largest financial planning businesses in Northern Ireland into the Mattioli Woods Group presents itself. In over 30 years of operations, Doherty's has built a solid and respected reputation, with integrity and professionalism at the heart of its client service.”
“It was clear from our initial discussions that Doherty's is a great fit culturally and strategically, including a focus on long-term client relationships, serving a similar client base to our existing business. This acquisition is an important step forward for Mattioli Woods, strengthening our position as the only SSAS and SIPP operator based in Northern Ireland."
Wright added: “There are many complementary elements between our businesses enhancing our specialist pension, discretionary portfolio management and financial planning propositions. We believe the range of products and services that Mattioli Woods has to offer can support the excellent outcomes from which Doherty’s clients already benefit.”
Doherty’s managing director Terry Lappin said: “We are delighted to be joining the Mattioli Woods Group as the synergy between our companies was obvious from our very first discussion. This can only improve our client offering and we are looking forward with enthusiasm to what can be achieved.”
Read more about M&A in financial services.
View recent administrations.
A successful Kent based web development company established for over 18 years has grown a diverse portfolio of active clients, some of which a well known brands and household names.
WEB-BASED
Established employment agency specialising in supplying permanent contract and temporary candidates for vacancies in highly specialist sectors. With a strong foothold in multiple niche disciplines the company has in-depth specialist knowledge working...
Established financial services consultancy specialising in risk and compliance solutions for clients in the UK asset management sector. Utilising its extensive industry experience and knowledge the company successfully advises on all aspects of compl...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.